Banks can also give other features to consumers, such as:
- Instant access to cash (hole in the wall cash machines)
- Advice on financial matters
- Methods to make international payments. Increasingly banks offer electronic transfer of money through systems such as BACS
- Offering special offers to customers, including arranging travel insurance. Increasingly many current accounts come with a range of extras, such as free travel insurance, free membership of the AA
Banking in the UK is a very profitable enterprise because there is a lack of competition. The market is dominated by the top 10 banks and in particular the big 5 banks.